Advisors Asset Management Inc. Increases Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Advisors Asset Management Inc. increased its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 117.9% during the third quarter, Holdings Channel reports. The institutional investor owned 1,166 shares of the company’s stock after acquiring an additional 631 shares during the period. Advisors Asset Management Inc.’s holdings in Alkami Technology were worth $37,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ALKT. Driehaus Capital Management LLC lifted its position in shares of Alkami Technology by 56.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock valued at $31,080,000 after acquiring an additional 392,483 shares during the period. Millennium Management LLC raised its holdings in Alkami Technology by 124.1% during the second quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock worth $14,658,000 after purchasing an additional 284,977 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Alkami Technology by 13.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company’s stock worth $44,719,000 after purchasing an additional 181,194 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Alkami Technology by 12.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,053,567 shares of the company’s stock worth $30,002,000 after purchasing an additional 120,468 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Alkami Technology in the second quarter valued at $2,668,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Alkami Technology Stock Up 0.5 %

ALKT stock opened at $39.47 on Friday. The company has a 50 day moving average price of $35.99 and a two-hundred day moving average price of $32.08. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The stock has a market capitalization of $3.97 billion, a P/E ratio of -83.98 and a beta of 0.43. Alkami Technology, Inc. has a one year low of $21.19 and a one year high of $42.29.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ALKT shares. The Goldman Sachs Group lifted their price target on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC upped their price target on shares of Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, October 31st. JMP Securities increased their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 29th. Barclays lifted their price objective on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, Craig Hallum increased their target price on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alkami Technology has an average rating of “Moderate Buy” and an average target price of $37.44.

Insider Transactions at Alkami Technology

In other Alkami Technology news, CEO Alex Shootman sold 37,758 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the transaction, the chief executive officer now owns 1,056,207 shares of the company’s stock, valued at $31,422,158.25. This trade represents a 3.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of Alkami Technology stock in a transaction on Monday, November 25th. The shares were sold at an average price of $39.75, for a total transaction of $119,250,000.00. Following the completion of the transaction, the director now owns 9,680,049 shares in the company, valued at approximately $384,781,947.75. This trade represents a 23.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,360,428 shares of company stock worth $244,916,568 over the last quarter. 38.00% of the stock is currently owned by insiders.

Alkami Technology Profile

Alkami Technology, Inc offers cloud-based digital banking solutions in the United States. The company's Alkami Platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, and multi-tenant architecture.